CALI, Colombia, August 11, 2016 /PRNewswire/ --
New Colombia Resources, Inc. (OTC: NEWC), a Colombian company listed in the U.S., is pleased to announce its plans to legally develop coca leaf products for medicinal and nutraceutical uses. The Company has developed a line of medical marijuana products in Colombia since 2014 through a joint venture on an Indian reservation. Unlike marijuana, coca is a Schedule II drug in the United States because it has medical benefits. The DEA announced this week that marijuana will remain a Schedule I substance until the FDA determines it has medical benefits.
Indigenous communities in Colombia have been using "mama-coca" for centuries as a medicine and are allowed to grow coca leaves to manufacture and market products derived from their sacred plants, including marijuana and coca. New Colombia Resources has made significant advances in creating several categories of products to be announced in the very near future. They will partner with experienced Colombian and international manufactures in the respective industries of their products. Their indigenous partners have decades of experience in developing and marketing these products which the company plans to take to the next level with the participation of the whole community. "As Colombians our aim is for Colombians to take the lead in this new industry, not multi-nationals. Our experience with medical marijuana is a huge benefit in our efforts to create a sustainable coca leaf industry for these communities," commented John Campo, President of New Colombia Resources, Inc.
Approximately 100 metric tons of coca leaves are legally imported to the U.S. each year under special permission from the Drug Enforcement Administration (DEA). It is widely reported that The Coca-Cola Company (NYSE: KO) is the only U.S. corporation that has been granted the right to legally import coca leaves into the United States, via a coca processing lab known as the Stepan Company. Once the coca leaves are imported to the U.S., the cocaine is extracted from the leaves and sold to pharmaceutical companies and the remnants used as flavoring by Coca Cola. New Colombia Resources will de-cocainize the coca leaves in Colombia for any products it intends to legally import to the U.S.
Used in its whole form, coca leaf is a fundamentally benign herbal material which provides vitamin A, riboflavin, iron and calcium, and may also help to regulate blood glucose, thus enhancing metabolism and helping to reduce the tendency toward adult onset diabetes and obesity. Coca leaf is also rich in beneficial antioxidants, including ones that help to protect the integrity of blood vessels. But its concentrated, isolated alkaloid cocaine is an illicit drug that has taken the lives of thousands. Coca tea can be good for you, but cocaine can kill you.
Debates to legalize coca medicines and consumables in all of Colombia have been opened by Senator Juan Manuel Galan, who opened debates in 2014 for the legalization of medical marijuana which was passed in May 2016.
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining and rock quarry aggregates for domestic Colombian highway and railroad building projects. The Company owns 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. New Colombia Resources also holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit http://www.sannabis.co. For more information on the Company visit http://www.newcolombiaresources.com.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
New Colombia Resources, Inc.
SOURCE New Colombia Resources Inc.